TOMITA ELECTRIC CO.,LTD., First Half Ordinary Profit Turns to Loss, 2Q (May-July) Ordinary Profit Loss Widens

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Mon Sep 9, 2024 4:00 pm JST Earnings

6898 TOMITA ELECTRIC CO.,LTD. 【J-GAAP】

Earnings Report

TOMITA ELECTRIC CO.,LTD. <6898> [TSE-S] announced its financial results after the market closed on September 9th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending January 2025 (February to July) turned into a loss of 69 million yen (compared to a break even in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the August to January period (second half) is expected to turn into a profit of 105 million yen (compared to a loss of 23 million yen in the same period last year).

In the most recent three-month period, from May to July (2Q), the consolidated ordinary loss expanded to a loss of 42 million yen (compared to a loss of 23 million yen in the same period last year). The operating profit/loss margin drastically worsened from -2.8% in the same period last year to -12.0%.

Kabutan News

Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Feb - Jul, 2022	1,105	166	158	113	172.6	113.7	Sep 7, 2022	J-GAAP
Feb - Jul, 2023	810	7	0	9	14.9	ー	Sep 8, 2023	J-GAAP
Feb - Jul, 2024	721	-78	-69	-73	-95.6	ー	Sep 9, 2024	J-GAAP
YoY	-11.0%	－	－	－	－

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb - Jul, 2024 Guidance	721	-78	-69	-73	-95.1	0	Sep 2, 2024	J-GAAP
Feb - Jul, 2024 Results	721	-78	-69	-73	-95.6	0	Sep 9, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	-0.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2023	682	-34	-23	-42	-60.4	0	Mar 15, 2024	J-GAAP
Aug - Jan, 2024 Guidance	909	114	105	102	130.6	0	Sep 2, 2024	J-GAAP
YoY	+33.3%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	2,004	143	139	95	144.7	0	Mar 15, 2023	J-GAAP
Jan, 2024	1,492	-27	-23	-33	-47.5	0	Mar 15, 2024	J-GAAP
Jan, 2025 Guidance	1,630	36	36	29	37.1	0	Mar 15, 2024	J-GAAP
YoY	+9.2%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	400	-11	-23	-12	-19.8	-2.8	Sep 8, 2023	J-GAAP
Aug - Oct, 2023	351	-34	-31	-45	-65.0	-9.7	Dec 8, 2023	J-GAAP
Nov - Jan, 2023	331	0	8	3	4.3	0.0	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	322	-30	-27	-28	-37.4	-9.3	Jun 7, 2024	J-GAAP
May - Jul, 2024	399	-48	-42	-45	-58.9	-12.0	Sep 9, 2024	J-GAAP
YoY	-0.3%	-336.4%	-82.6%	-275.0%	-197.6%